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Tax law has municipalities offering pre-payment option for taxes

December 27, 2017 07:03 PM

SARATOGA SPRINGS - The new tax law in Washington puts a cap on the amount of state and local property taxes you can deduct on your taxes at $10,000. That has a lot of people interested in paying their property taxes before the end of the year.

A number of municipalities are now offering pre-payment, including Saratoga Springs. They were hoping to have bills online Wednesday and if you live in the city and want to pay early, you can starting Thursday.

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"The city takes no position on whether people should or should not do this," assured Mike Sharp, the deputy commissioner of finance. "Before anyone does this, we recommend they talk to their accountant or financial consultant, just because the bill really did just get signed into law and people are still figuring out kind of what's in it really."

The city recommends you pay in person, but online payment is expected to also be available.

If you have an escrow account, contact your bank first.

It's also important to note, you cannot pre-pay your school taxes.

Credits

WNYT Staff

Copyright 2017 - WNYT-TV, LLC A Hubbard Broadcasting Company

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